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AI Scam Calls and Bank Security: How to Protect Your Finances
The rise of AI scam calls is changing how fraudsters target individuals and businesses. Using advanced Artificial Intelligence tools, scammers are now creating eerily realistic voice cloning models that mimic the speech, tone, and emotion of trusted figures such as loved ones or corporate executives. These voice cloning scams are a growing threat, with cases of identity theft and impostor scams making headlines around the world.
One viral example occurred in 2024 when a Hong Kong company lost over $25 million after a convincing deepfake video call tricked employees. The attackers used AI-generated voices and faces to impersonate the company’s CFO and successfully manipulated staff into transferring $25 million (CNN).
Closer to home, the Federal Trade Commission has sounded the alarm about the growing risks of voice-based fraud. These scams are no longer futuristic. They are happening now. As your trusted financial partner, Banesco USA is committed to helping you recognize the warning signs and protect what matters most: your financial security and peace of mind. Take the next step, enroll today, and give your finances the security they deserve.
How Do AI Voice Scams Work?
AI scam calls often begin with something as simple as a few seconds of audio. Scammers scrape social media platforms, podcasts, online videos, or voicemail greetings to capture a person’s voice. Using voice cloning technology, they can then generate audio that mimics a specific person with remarkable accuracy. This can include changes in pitch, tone, inflection, and even emotional delivery.
Financial institutions are among the most common targets for these attacks. Scammers know that mimicking a bank officer or fraud department representative can trigger quick responses from concerned customers. As a result, financial service providers like Banesco USA remain on high alert and continuously invest in detection tools to help protect our clients from this evolving threat.
- Generative AI platforms and voice cloning tools are now widely accessible. Scammers use them to harvest voice data and match it with stolen phone numbers found on the dark web, allowing for highly targeted AI Voice Scam campaigns.
- Even law enforcement has become a target. The Federal Bureau of Investigation reports that scammers used deepfake voice phishing to impersonate an FBI executive and attempt internal compromise (IC3.gov).
- AI tools are no longer just in the hands of experts. As Dr. Angela Orebaugh of the University of Virginia notes, these technologies are now easy to use, giving average threat actors the power to exploit human trust through audio manipulation (University of Virginia).
- Fake voicemails and spoofed numbers are on the rise. According to the Better Business Bureau, scammers are leveraging AI to create audio messages and fake caller IDs that appear to come from banks or family members (BBB.org).
Public awareness is still catching up to the speed of AI development. The best protection remains a skeptical ear, verification of suspicious communications, and staying alert to the evolving tactics used in voice cloning scams. You must always be aware of suspicious behaviors, and when it comes to your financial protection, know what banks will never ask you to do.
Red Flags and What You Should Do When You Get an AI Scam Call
AI scams are becoming more convincing and dangerous. Below are real-world warning signs based on recent scam reports and what they may look like in everyday life:
- “Can you hear me?” Phone scams are making a comeback. According to Reader’s Digest, answering this question may result in your voice being recorded and reused to authorize fraudulent charges.
- Virtual kidnapping scams are on the rise. Victims report receiving calls from loved ones seemingly in distress, only to learn later that cloned voices and emotional manipulation were used to demand a wire transfer of funds (Bitdefender).
- Older adults are being disproportionately targeted. According to the National Council on Aging, seniors are more likely to trust phone calls and less likely to recognize signs of cloning software or AI phone scam behavior.
- Calls from “spoofed” numbers appear legitimate. If a caller claims to be from your bank or the IRS but pushes you to act immediately, hang up and verify using a trusted source.
- Requests for personal information or money should always raise suspicion. Banks will never demand voice recordings, urgent wire transfers, or private credentials over an unsolicited phone call.
Action Plan: Steps to Protect Yourself
Protect Yourself Against AI Scams With Banesco USA
Fighting back against AI-driven fraud begins with smart banking and secure habits. Banesco USA offers clients a safer way to manage finances by combining technology and customer-first security practices. Features like our Banesco Token, which generates a unique code for each online transaction, help prevent unauthorized access even if your credentials are compromised. It’s one of the many ways we’re helping you bank with confidence, as detailed here.
Whether you’re a private citizen or a business owner, enrolling with Banesco means you’re taking proactive steps to safeguard your money.
For more tools, tips, and updates, visit our Fraud Prevention blog series.
